Israeli Diamond Portal Reports: Study: Luxury market's Q4 sees improved performance

Jan. 31, 2010 - PRLog -- A new Unity Marketing Luxury Tracking Study, which looked into 2009's fourth quarter consumer and retails trends, noted a marked improvement in consumer sentiment among affluent consumers.

Affluent consumers are defined as those at the top 20% of household income. The survey spanned some 1,614 affluent consumers.
Early 2010 figures show that the Luxury Consumption Index (LCI), which measures consumer confidence in the ranks of the affluent stands, has steadily gained points throughout 2009, recovering  some 80% of the points it lost since the global recession saw it bottom out in September 2008.  

Pam Danziger, president of Unity Marketing and lead researcher in the luxury tracking study:"The latest survey shows affluents continue to be pessimistic about the overall economy.  For example only 26%of affluents feel the country as a whole is better off now than three months ago.  Further, nearly 80%believe the country remains mired in the recession. The majority of affluents we polled think the recession won't officially end until 2011.  

"But while affluents continue to be cautious about the world at large,” she continued, “they are more optimistic about their own financial situation.   Because they feel financially more stable, they were empowered to spend more money on luxury in the fourth quarter."  

For example, Q4 figures indicated affluents spent about 50% more on luxury clothing and apparel, fashion accessories, travel and spa and beauty services, compared to third quarter.  Overall, affluents spent 7.9% more on luxury from third to fourth quarter, following a 29.4% increase from second to third quarter.

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The Israeli Diamond Industry organizations
Behind the Israeli Diamond Industry are a group of vital and dynamic institutions. Each one is responsible for a different aspect of the industry’s activities.